BNP Paribas: It's time to sell the Australian dollar

This month the Australian dollar again raise its price, however, as before, it failed to break through key resistance levels, and while its attempts to decrease remain limited, the dynamics of the pair shows a weakening of upward momentum, analysts said.
Analysts at BNP Paribas note that market participants in recent years have gained a strong track record of long positions and the positions of speculators close to important technical levels suggest the attractiveness of short positions in AUD/USD.
At the bank believe that the new period of decrease will also contribute to fundamental factors and announced the opening of short positions in AUD at 0.7695 with target 0.7400 and a stop at 0.7815.